ChainCatcher Message, Bitwise Europe Research Director André Dragosch stated on platform X that the illiquid supply of Bitcoin has reached an all-time high, while Bitcoin balances on exchanges have fallen to a multi-year low.

Firstly, the illiquid supply refers to those Bitcoins that are held long-term and are not easily traded, currently accounting for nearly 75%. This indicates that the number of Bitcoins available for trading in the market is decreasing.

Secondly, the Bitcoin balance on exchanges constitutes less than 14% of the total supply, showing that the circulating Bitcoin in the market is becoming increasingly scarce.

Overall, this trend could have an impact on Bitcoin prices and is worth close attention from investors.